Dairy Products Market, by Product Type (Milk, Cheese, Butter, Dessert, Yogurt, and Others), by Distribution Channel (Supermarket/Hypermarket, Specialty Stores, Convenience Stores, and Others), and by Region (North America, Latin America, Asia Pacific, Europe, and Middle East & Africa) - Size, Share, Outlook, and Opportunity Analysis, 2022 - 2030
Dairy product is defined as milk and any of the foods made from milk including butter, cheese, ice cream, yogurt, and condensed and dried milk. Dairy products are extremely diverse, as a result of the robust composition of milk and the types of microorganisms that can grow in milk. Majority of the organisms used for fermenting dairy products include lactic acid bacteria because of their ability to convert lactose to lactic acid efficiently. Lactic acid helps to increase acidity, coagulate proteins, and prevent the growth of undesirable organisms. Some minor metabolic end products and degradation of proteins and lipids also contribute to the flavor of dairy products.
Market Dynamics
Growing consumer awareness towards healthy lifestyle and nutritional food is boosting demand for dairy products. For instance, in 2019, International Food Information Council Foundation (IFICF) conducted a consumer survey in North America about diet preferences. More than 48% of consumers said that they often include dairy products in their daily meals as a source of protein and vitamins. Thus, above mentioned factors are expected to boost demand for dairy products, thereby driving the market growth.
Additionally, various other factors such as increasing milk production, favorable polices for dairy industry, rising population, increasing consumer disposable income, growing foreign investment, increasing demand for western dairy products such as yogurt, sour milk, etc., and technological advancements in dairy processing are expected to boost demand for dairy products, which in turn is expected to drive the dairy products market growth.
Increasing dairy products sales through various popular online distribution channels such as Just Milk, Sainsbury’s, Ocado, Mr. Case, and Walmart is expected to create lucrative opportunities for market during the forecast period. Some companies also deliver the product online through their mobile application.
For instance, India-based, Gujarat Cooperative Milk Marketing Federation (GCMMF Amul) delivers milk and other dairy products through its mobile app. additionally, growing usage of internet and improved connectivity across the world will also augment the dairy products market growth. Thus, innovation in dairy products & significant products sales through online distribution channels are expected to create lucrative opportunities for the market during the forecast period.
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